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Last Updated: April 2, 2026, 3:33 am
Author: Getaka|Social: XLinkedIn

Radico Khaitan Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,608.14Overvalued by 40.08%vs CMP ₹2,684.00

P/E (67.7) × ROE (13.6%) × BV (₹218.00) × DY (0.15%)

₹741.89Overvalued by 72.36%vs CMP ₹2,684.00
MoS: -261.8% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,856.7722%Over (-30.8%)
Graham NumberEarnings₹435.6916%Over (-83.8%)
Earnings PowerEarnings₹116.5613%Over (-95.7%)
DCFCash Flow₹751.0911%Over (-72%)
Net Asset ValueAssets₹217.857%Over (-91.9%)
EV/EBITDAEnterprise₹561.339%Over (-79.1%)
Earnings YieldEarnings₹387.007%Over (-85.6%)
ROCE CapitalReturns₹436.139%Over (-83.8%)
Revenue MultipleRevenue₹542.545%Over (-79.8%)
Consensus (9 models)₹741.89100%Overvalued
Key Drivers: Wide model spread (₹117–₹1,857) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 15.5%

*Investments are subject to market risks

Investment Snapshot

67
Radico Khaitan Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health81/100 · Strong
ROCE 16.2% GoodROE 13.6% GoodD/E 0.15 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 2.87% (6mo) AccumulatingDII holding down 2.74% MF sellingPromoter holding at 40.2% Stable
Earnings Quality50/100 · Moderate
OPM stable around 13% Steady
Quarterly Momentum90/100 · Strong
Revenue (4Q): +26% YoY AcceleratingProfit (4Q): +67% YoY Strong
Industry Rank40/100 · Moderate
P/E 67.7 vs industry 26.7 Premium to peersROCE 16.2% vs industry 15.5% Average3Y sales CAGR: 19% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:33 am

Market Cap 35,938 Cr.
Current Price 2,684
Intrinsic Value₹741.89
High / Low 3,695/2,132
Stock P/E67.7
Book Value 218
Dividend Yield0.15 %
ROCE16.2 %
ROE13.6 %
Face Value 2.00
PEG Ratio4.38

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Radico Khaitan Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Radico Khaitan Ltd 35,938 Cr. 2,684 3,695/2,13267.7 2180.15 %16.2 %13.6 % 2.00
Tilaknagar Industries Ltd 10,523 Cr. 426 550/20037.2 80.60.23 %28.2 %29.6 % 10.0
Globus Spirits Ltd 2,479 Cr. 853 1,304/79731.2 3580.32 %5.80 %2.54 % 10.0
G M Breweries Ltd 2,396 Cr. 1,049 1,329/59114.7 4310.72 %18.1 %14.6 % 10.0
Associated Alcohols & Breweries Ltd 1,449 Cr. 722 1,446/66116.6 3090.28 %20.0 %17.3 % 10.0
Industry Average6,879.63 Cr832.5126.65278.690.21%15.54%13.43%8.00

All Competitor Stocks of Radico Khaitan Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 7928329549251,1611,0791,1371,1161,2941,3041,5061,4941,547
Expenses 6957538348041,0189569889531,1101,1261,2741,2561,280
Operating Profit 9779120121143123149163184178232238267
OPM % 12%9%13%13%12%11%13%15%14%14%15%16%17%
Other Income 3111521111-22-7
Interest 691212181716172022161616
Depreciation 17202426323233363636363737
Profit before tax 765184839877101112130122178186207
Tax % 25%27%25%26%25%26%25%27%26%25%25%25%25%
Net Profit 57376362745776829691133139155
EPS in Rs 4.272.794.734.635.524.255.716.147.176.789.9610.3811.58

Last Updated: February 4, 2026, 11:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,3781,4001,6431,6571,7972,0632,3952,3742,8593,1334,1064,8435,851
Expenses 1,1821,2201,4521,4441,5261,7132,0231,9652,4572,7753,5994,1684,936
Operating Profit 196180191214270351372409402359507674915
OPM % 14%13%12%13%15%17%16%17%14%11%12%14%16%
Other Income 343636182613-152011995-6
Interest 85908581693632221322607470
Depreciation 39384342414253546571114140147
Profit before tax 1068799109187286273353335275342465692
Tax % 33%22%26%26%34%34%17%23%25%26%25%26%
Net Profit 71687380123188228271252204256345518
EPS in Rs 5.365.085.526.029.2614.1017.0420.2618.8615.2919.1325.8038.70
Dividend Payout % 15%16%14%13%11%9%12%12%16%20%16%16%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-4.23%7.35%9.59%53.75%52.85%21.28%18.86%-7.01%-19.05%25.49%34.77%
Change in YoY Net Profit Growth (%)0.00%11.58%2.24%44.16%-0.90%-31.57%-2.42%-25.87%-12.04%44.54%9.28%

Radico Khaitan Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:15%
3 Years:19%
TTM:21%
Compounded Profit Growth
10 Years:17%
5 Years:7%
3 Years:11%
TTM:52%
Stock Price CAGR
10 Years:42%
5 Years:48%
3 Years:40%
1 Year:42%
Return on Equity
10 Years:13%
5 Years:13%
3 Years:12%
Last Year:14%

Last Updated: September 5, 2025, 12:50 pm

Balance Sheet

Last Updated: December 4, 2025, 1:51 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 27272727272727272727272727
Reserves 7548039371,0031,1151,2881,4941,7371,9602,1252,3512,6642,890
Borrowings 904849960799592337400288202754818750624
Other Liabilities 3324113903924985815405435557628461,1631,236
Total Liabilities 2,0172,0892,3132,2212,2322,2332,4602,5952,7443,6684,0424,6054,777
Fixed Assets 5705737297046857147438108211,2131,6571,7671,773
CWIP 81222016183830327542370
Investments 10898205205205155155155135135135135135
Other Assets 1,3301,4181,3761,3091,3211,3471,5431,5921,7571,9932,1952,6792,798
Total Assets 2,0172,0892,3132,2212,2322,2332,4602,5952,7443,6684,0424,6054,777

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 137250-3925231630960370221224166362
Cash from Investing Activity + -141-83843-21-7-67-76-108-684-226-171
Cash from Financing Activity + 3-172-87-234-293-2269-183-13448224-237
Net Cash Flow -1-5-42212762111-2122-36-46
Free Cash Flow 63202-82234272237-2024184-460-60189
CFO/OP 83%150%-10%125%130%110%39%109%78%82%47%67%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-708.00-669.00-769.00-585.00-322.0014.00-28.00121.00200.00-395.00-311.00-76.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 13912513613712811412510796968789
Inventory Days 118164202199231270209283234292211246
Days Payable 7195129125159183148151102112123148
Cash Conversion Cycle 185194209211201201187239228277175187
Working Capital Days 1171063620447685104109756772
ROCE %12%11%10%10%14%19%18%19%16%12%13%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 40.27%40.27%40.26%40.26%40.26%40.26%40.24%40.24%40.23%40.23%40.21%40.21%
FIIs 18.63%18.26%18.18%19.01%18.58%18.82%18.60%17.71%16.95%17.77%18.00%19.82%
DIIs 23.51%23.76%23.92%23.99%24.72%24.47%24.70%25.56%26.77%25.96%25.48%24.03%
Public 17.59%17.71%17.63%16.75%16.45%16.44%16.45%16.48%16.04%16.03%16.31%15.96%
No. of Shareholders 1,17,0891,07,4651,15,4301,12,8001,11,7811,14,6811,23,7411,29,5001,30,9251,39,9741,49,2511,56,525

Shareholding Pattern Chart

No. of Shareholders

Radico Khaitan Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund 2,045,586 0.88 578.512,136,9582026-02-23 00:58:21-4.28%
Kotak Multicap Fund 1,973,493 2.46 558.121,089,8532025-12-08 04:36:2781.08%
Nippon India ELSS Tax Saver Fund 1,110,000 2.11 313.921,110,0002025-04-22 15:56:540%
HSBC Midcap Fund 793,700 1.84 224.47N/AN/AN/A
HSBC Small Cap Fund 636,000 1.2 179.87685,0002026-02-23 00:58:21-7.15%
Nippon India Growth Mid Cap Fund 614,119 0.42 173.68N/AN/AN/A
Kotak Equity Savings Fund 599,928 1.76 169.67N/AN/AN/A
Kotak Multi Asset Allocation Fund 501,663 1.17 141.88N/AN/AN/A
Nippon India Flexi Cap Fund 401,206 1.23 113.47N/AN/AN/A
HSBC Aggressive Hybrid Fund 305,500 1.59 86.4N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 25.8419.6116.4819.7020.75
Diluted EPS (Rs.) 25.8219.6116.4819.7020.74
Cash EPS (Rs.) 36.2727.6320.5923.4524.29
Book Value[Excl.RevalReserv]/Share (Rs.) 205.80182.45165.17151.63134.23
Book Value[Incl.RevalReserv]/Share (Rs.) 205.80182.45165.17151.63134.23
Revenue From Operations / Share (Rs.) 362.55308.01235.11214.55181.04
PBDIT / Share (Rs.) 50.7138.5127.5130.6432.12
PBIT / Share (Rs.) 40.2330.0022.2125.7928.08
PBT / Share (Rs.) 34.7225.5820.5524.8126.44
Net Profit / Share (Rs.) 25.7919.1215.2918.5920.26
NP After MI And SOA / Share (Rs.) 25.8319.6116.4819.6920.75
PBDIT Margin (%) 13.9812.5011.7014.2817.74
PBIT Margin (%) 11.099.749.4412.0115.51
PBT Margin (%) 9.578.308.7411.5614.60
Net Profit Margin (%) 7.116.206.508.6611.18
NP After MI And SOA Margin (%) 7.126.367.019.1711.46
Return on Networth / Equity (%) 12.5510.749.9812.9815.45
Return on Capital Employeed (%) 17.3913.9111.2816.2019.79
Return On Assets (%) 7.456.405.929.4610.21
Long Term Debt / Equity (X) 0.050.110.120.000.00
Total Debt / Equity (X) 0.220.300.310.090.15
Asset Turnover Ratio (%) 1.111.050.971.050.93
Current Ratio (X) 1.631.721.732.471.98
Quick Ratio (X) 0.931.071.071.641.39
Inventory Turnover Ratio (X) 5.233.243.063.082.87
Dividend Payout Ratio (NP) (%) 11.6115.2918.1912.189.63
Dividend Payout Ratio (CP) (%) 8.2610.6613.769.778.06
Earning Retention Ratio (%) 88.3984.7181.8187.8290.37
Cash Earning Retention Ratio (%) 91.7489.3486.2490.2391.94
Interest Coverage Ratio (X) 9.198.7116.6331.2619.49
Interest Coverage Ratio (Post Tax) (X) 5.685.3210.2419.9713.29
Enterprise Value (Cr.) 33053.4023721.7816532.1611939.327632.63
EV / Net Operating Revenue (X) 6.815.765.264.163.16
EV / EBITDA (X) 48.7246.0744.9529.1517.79
MarketCap / Net Operating Revenue (X) 6.705.615.084.143.10
Retention Ratios (%) 88.3884.7081.8087.8190.36
Price / BV (X) 11.809.467.235.854.18
Price / Net Operating Revenue (X) 6.705.615.084.143.10
EarningsYield 0.010.010.010.020.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Radico Khaitan Ltd. is a Public Limited Listed company incorporated on 21/07/1983 and has its registered office in the State of Uttar Pradesh, India. Company's Corporate Identification Number(CIN) is L26941UP1983PLC027278 and registration number is 027278. Currently Company is involved in the business activities of Distilling, rectifying and blending of spirits; ethyl alcohol production from fermented materials. Company's Total Operating Revenue is Rs. 4851.15 Cr. and Equity Capital is Rs. 26.76 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Beverages & DistilleriesRampur Distillery, Bareilly Road, Rampur Uttar Pradesh 244901Contact not found
Management
NamePosition Held
Dr. Lalit KhaitanChairman & Managing Director
Mr. Abhishek KhaitanManaging Director
Mr. Amar SinghWhole Time Director
Mr. Pushp JainIndependent Director
Mr. Tushar JainIndependent Director
Mr. Sharad JaipuriaIndependent Director
Ms. Sushmita SinghaIndependent Director

FAQ

What is the intrinsic value of Radico Khaitan Ltd and is it undervalued?

As of 14 April 2026, Radico Khaitan Ltd's intrinsic value is ₹741.89, which is 72.36% lower than the current market price of ₹2,684.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.6 %), book value (₹218), dividend yield (0.15 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Radico Khaitan Ltd?

Radico Khaitan Ltd is trading at ₹2,684.00 as of 14 April 2026, with a FY2026-2027 high of ₹3,695 and low of ₹2,132. The stock is currently in the middle of its 52-week range. Market cap stands at ₹35,938 Cr..

How does Radico Khaitan Ltd's P/E ratio compare to its industry?

Radico Khaitan Ltd has a P/E ratio of 67.7, which is above the industry average of 26.65. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Radico Khaitan Ltd financially healthy?

Key indicators for Radico Khaitan Ltd: ROCE of 16.2 % indicates efficient capital utilization. Dividend yield is 0.15 %.

Is Radico Khaitan Ltd profitable and how is the profit trend?

Radico Khaitan Ltd reported a net profit of ₹345 Cr in Mar 2025 on revenue of ₹4,843 Cr. Compared to ₹252 Cr in Mar 2022, the net profit shows an improving trend.

Does Radico Khaitan Ltd pay dividends?

Radico Khaitan Ltd has a dividend yield of 0.15 % at the current price of ₹2,684.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Radico Khaitan Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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